F5 Networks Annual revenue tops half-billion US dollar mark on 33 percent growth

F5 Networks announces Fourth Quarter and Fiscal 2007 Results.

Annual revenue tops half-billion US dollar mark on 33 percent growth

More about F5 Networks.

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Press Release:

KUALA LUMPUR—October 26, 2007—F5 Networks, Inc. (NASDAQ: FFIV) today announced revenue of USD$145.6 million (approximately RM553.28 million) for the fourth quarter of fiscal 2007, up 10 percent from USD$132.4 million in the prior quarter and 30 percent from USD$111.7 million in the fourth quarter of fiscal 2006.

Acquisition of Acopia Networks:

Fourth quarter net income of USD$12.9 million included a one-time charge of USD$14 million stemming from the company’s recent acquisition of Acopia Networks. Net income was USD$21.8 million in the third quarter of 2007 and USD$17.8 million in the fourth quarter a year ago. For fiscal 2007, revenue was USD$525.7 million, up 33 percent from USD$394.0 million in fiscal 2006. Net income for the year was USD$77.0 million compared to net income of USD$66.0 million in fiscal 2006.

Enforced Sales, Marketing and Product Development Human Resources:

F5 president and chief executive officer John McAdam said the company’s fourth consecutive year of strong revenue growth reflects the continuing strength of F5’s core business in the context of stepped-up organizational investments in fiscal 2007.
“Excluding Acopia, our single biggest investment during the year, we added approximately 385 employees across the organization, the majority in sales and marketing, product development and service. We continue to believe that our investments in sales and marketing will have a significant impact on our revenue growth in the coming year and enable us to further expand our share of the growing application delivery networking market,” said McAdam.

Faster Response Time To Customer:

“Equally important, our investments in our service business have enabled us to provide a growing array of services and to respond more quickly to customers’ needs. As a result, we believe F5 is well-positioned to extend its leadership in application delivery networking and to become a leader in the emerging file virtualization market through our newly acquired data solutions business.”

Strengthened Balance Sheet:

During the fourth quarter, F5 continued to strengthen its balance sheet. Deferred revenue, principally from service maintenance contracts, grew 21% to USD$100.5 million. Cash flow from operations was USD$47.7 million, and following the purchase of Acopia for USD$210 million, the company ended the year with USD$475 million in cash and investments.

For the first quarter of fiscal 2008, McAdam said the company’s revenue target is USD$154 million to USD$156 million.

About F5 Networks

F5 Networks is the global leader in Application Delivery Networking. F5 provides solutions that make applications secure, fast and available for everyone, helping organizations get the most out of their investment. By adding intelligence and manageability into the network to offload applications, F5 optimizes applications and allows them to work faster and consume fewer resources. F5's extensible architecture intelligently integrates application optimization, protects the application and the network, and delivers application reliability-all on one universal platform. Over 16,000 organizations and service providers worldwide trust F5 to keep their applications running. The company is headquartered in Seattle, Washington with offices worldwide.

Local PR contact:-

Jade Lo
Sirius PR Sdn Bhd
(603) 7805 2700